<p>Years ago we set up 529 accounts for each of our children. Oldest is finishing second year of college, youngest is only in 5th grade, so we are in this for the long haul. Our financial situation has changed drastically in the last couple years, so haven't been able to put any savings aside for a while. When things (hopefully) start looking up again am wondering if we should continue putting $ into the 529s, or if there are other options we should explore. Pretty much everything we now know about FA was learned here on the CC parents' forum.</p>
<p>I’m a big believer in self-management of assets but you have to do a lot of work to educate yourself and have to make difficult decisions from time to time on it.</p>
<p>529’s and tickets to Navy Football.</p>
<p>Get 'em hooked on an Academy early! :)</p>
<p>LFWB dad-- Actually, S1 is now doing AROTC, and will sign up officially in the fall. A LONG long time ago here on CC, I recall someone posting that he sounded like a candidate for one of the academies… </p>
<p>As for his younger siblings, am just trying to choose the best options for when we’re able to start saving again. I think even regular savings accounts vs. money market accounts make a difference on the CSS Profile – forget how, though-</p>
<p>If you think it likely that your kid will go to a private college, the Independent 529 Plan is interesting. [Independent</a> 529 Plan](<a href=“http://www.independent529plan.org%5DIndependent”>http://www.independent529plan.org)</p>
<p>With the I529 Plan, you are guaranteed to keep up with tuition inflation for any of the member colleges, plus get a tuition discount of 0.5% per investment year. If your kid doesn’t go to a member college, you are limited to +2% to -2% return, depending on actual performance. </p>
<p>I have two kids and put S’s money in the Independent 529 Plan, and D’s money in a regular 529, knowing that I could use either account for either kid, and guessing that the odds were good of at least one kid ending up a private school on the list. Over the last year, the I529 Plan money is safe, and the regular 529 account has lost more than 30% of its value.</p>
<p>Congratulations on your son!! That is awesome news</p>
<p>LFWB chose the US Merchant Marine Academy over the Naval Academy (great choice for him) and will be will be commissioned in the active duty Navy at graduation. He just got his ship assignement. The new Ensign will be headed for the USS Curtis Wilbur – DDG-54. </p>
<p>[url=<a href=“http://www.curtis-wilbur.navy.mil/Site%20Pages/welcome.aspx]Welcome[/url”>http://www.curtis-wilbur.navy.mil/Site%20Pages/welcome.aspx]Welcome[/url</a>]</p>
<p>Named in honor of the forty-third Secretary of the Navy, this Arleigh Burke Class guided missile destroyer is the first commissioned warship to carry the name “CURTIS WILBUR”. It is forward deployed to the Western Pacific Ocean and homeported in Yokosuka , Japan. It is one of seven ships in Destroyer Squadron FIFTEEN. Nicknamed the “Steel Hammer” it is an integral part of Battle Force SEVENTH Fleet, the Navy’s only permanently forward deployed naval forces. </p>
<p>He is totally psyched!</p>
<p>Very helpful, Sacchi - thanks. Had never heard of an Independent 529 acct before. We’re in the same boat with our regular ones – they went down more than 30%. </p>
<p>LFWBdad - Congrats to your son! You must be very proud of him. In my case it’s taken a while to warm up to the idea of S1 in the army (typical worried mom), but looking back, this seems to be the direction he’s headed in all along, so I am trying to be supportive!</p>
<p>lspf72 – We all worry. LFWB chose to get on a ship that was forward deployed so that every time it left port it would be operational. It’s easy to forget that the world is full of bad guys, who if not for patriots like your son, would be making life for us a lot more like 9-11 and its aftermath.</p>
<p>2400 years ago, Thucydides siad: “For where the rewards of virtue are greatest, there the noblest citizens are enlisted in the service of the state.” Its just as true today. Thank you for what your son is doing and your support of him.</p>
<p>Thanks for your kind words. He has two years of college left, so this is the easy part – and I’m determined to NOT start worrying any earlier than I need to! Best of luck to your son - what an exciting time for him!</p>